• FxWirePro: chfjpy takes support near 200-h ma, good to sell on rallies

    Source: FxWire Pro - Technicals / 22 Mar 2020 06:19:57   America/New_York

    Ichimoku Analysis (1 Hour chart)

     

    Tenken-Sen- 112.406

     

    Kijun-Sen- 111.99

     

    CHFJPY has started to recover after hitting a low of 111.77 level. The slight recovery was due to the weak yen. USDJPY is trading higher for past 1-week and jumped more than 850 pips.

     

    On the flip side, near term support around 111.68 (200-H MA) and any violation below will drag the pair down till 110.97/110.25/109.54.

     

     The immediate resistance is around 112.87 and the indicative break above targets 113.20/113.71.

     

     It is good to sell on rallies around 112.25-30 with SL around 112.80 for TP of 111.

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